Atlanta Braves (NASDAQ:BATRA) Stock Price Breaks Below Fifty Day Moving Average - What's Next?

Key Points

• BATRA shares fell below their 50-day moving average, trading as low as $53.95 and closing near $54.00 versus a 50-day average of $56.58.
• Analyst sentiment remains weak: Weiss Ratings reaffirmed a “sell (D-)” rating, while MarketBeat reports a consensus “Reduce” rating. The company also missed quarterly expectations, reporting a $0.19 loss per share versus a $0.29 consensus estimate and revenue below forecasts.
• Two executives sold a combined approximately 255,658 shares under pre-arranged Rule 10b5-1 plans, while institutional investors—including State Street, Renaissance Technologies and Dimensional Fund Advisors—recently increased their positions.

Atlanta Braves Holdings, Inc. (NASDAQ:BATRA - Get Free Report) shares passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $56.58 and traded as low as $53.95. Atlanta Braves shares last traded at $54.00, with a volume of 83,015 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a report on Thursday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce".

Atlanta Braves Stock Performance

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.06. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -53.47 and a beta of 0.62. The stock has a 50 day moving average of $56.58 and a 200 day moving average of $54.80.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.48). The firm had revenue of $305.12 million for the quarter, compared to analyst estimates of $317.09 million. Atlanta Braves had a negative net margin of 8.56% and a negative return on equity of 7.45%. As a group, analysts anticipate that Atlanta Braves Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at Atlanta Braves

In other news, EVP Derek Gordon Schiller sold 175,395 shares of Atlanta Braves stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $53.20, for a total transaction of $9,331,014.00. Following the transaction, the executive vice president owned 316,908 shares in the company, valued at approximately $16,859,505.60. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gregory Heller sold 80,263 shares of Atlanta Braves stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $53.89, for a total transaction of $4,325,373.07. Following the transaction, the executive vice president owned 22,741 shares in the company, valued at approximately $1,225,512.49. This trade represents a 77.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Atlanta Braves

A number of institutional investors have recently made changes to their positions in BATRA. State Street Corp raised its position in shares of Atlanta Braves by 10.6% during the second quarter. State Street Corp now owns 238,949 shares of the financial services provider's stock worth $13,455,000 after acquiring an additional 22,888 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Atlanta Braves by 45.6% in the first quarter. Quantinno Capital Management LP now owns 63,272 shares of the financial services provider's stock worth $2,983,000 after acquiring an additional 19,829 shares during the period. Renaissance Technologies LLC boosted its holdings in Atlanta Braves by 36.4% in the first quarter. Renaissance Technologies LLC now owns 334,700 shares of the financial services provider's stock valued at $15,781,000 after acquiring an additional 89,300 shares during the last quarter. Krilogy Financial LLC acquired a new stake in Atlanta Braves during the 1st quarter valued at approximately $504,000. Finally, Dimensional Fund Advisors LP increased its position in Atlanta Braves by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 221,916 shares of the financial services provider's stock valued at $10,463,000 after purchasing an additional 11,392 shares during the period. Institutional investors own 12.31% of the company's stock.

Atlanta Braves Company Profile

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves, a Major League Baseball franchise based in Atlanta, Georgia. The organization generates revenue through ticket sales, premium seating, sponsorships, media and broadcasting rights, concessions, licensing, retail merchandise, and other game-day and fan-related activities.

The Braves play their home games at Truist Park, which opened in 2017 in Cobb County, Georgia. The company also owns and operates The Battery Atlanta, a mixed-use development adjacent to the ballpark that includes restaurants, retail stores, office space, residences, entertainment venues, and event facilities.

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